Yacktman Asset Management LP Boosts Holdings in Legacy Housing Corporation $LEGH

Key Points

• Yacktman Asset Management LP increased its stake in Legacy Housing by 192.8% in the fourth quarter, buying an additional 115,675 shares to bring its total to 175,675 shares worth about $3.43 million.
• Institutional ownership remains high, with 89.35% of Legacy Housing shares held by hedge funds and other institutional investors, and several other funds also recently added to their positions.
• Legacy Housing’s latest earnings beat expectations, posting $0.46 EPS versus the $0.42 consensus, though revenue came in below forecasts at $34.37 million; analysts currently rate the stock Hold with an average target price of $21.00.

Yacktman Asset Management LP raised its stake in shares of Legacy Housing Corporation (NASDAQ:LEGH - Free Report) by 192.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,675 shares of the company's stock after purchasing an additional 115,675 shares during the period. Yacktman Asset Management LP owned 0.74% of Legacy Housing worth $3,429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Legal & General Group Plc lifted its holdings in Legacy Housing by 8.0% during the third quarter. Legal & General Group Plc now owns 9,671 shares of the company's stock valued at $266,000 after purchasing an additional 713 shares in the last quarter. First Trust Advisors LP lifted its holdings in Legacy Housing by 2.6% during the second quarter. First Trust Advisors LP now owns 35,892 shares of the company's stock valued at $813,000 after purchasing an additional 917 shares in the last quarter. Quarry LP purchased a new position in shares of Legacy Housing in the third quarter worth about $26,000. Teacher Retirement System of Texas lifted its stake in shares of Legacy Housing by 3.9% in the third quarter. Teacher Retirement System of Texas now owns 29,922 shares of the company's stock worth $823,000 after buying an additional 1,124 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Legacy Housing in the third quarter worth about $34,000. 89.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LEGH shares. Zacks Research raised shares of Legacy Housing from a "strong sell" rating to a "hold" rating in a research note on Monday, January 12th. Weiss Ratings downgraded shares of Legacy Housing from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $21.00.

Legacy Housing Stock Up 7.9%

Shares of LEGH opened at $23.28 on Friday. Legacy Housing Corporation has a 52-week low of $18.28 and a 52-week high of $29.45. The company has a market capitalization of $554.30 million, a PE ratio of 13.08 and a beta of 0.77. The stock has a fifty day simple moving average of $20.69 and a two-hundred day simple moving average of $20.91.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Legacy Housing had a return on equity of 8.15% and a net margin of 26.01%.The business had revenue of $34.37 million during the quarter, compared to the consensus estimate of $38.82 million. As a group, equities analysts anticipate that Legacy Housing Corporation will post 2.08 earnings per share for the current fiscal year.

Legacy Housing Company Profile

Legacy Housing Corp. designs, builds and markets factory-built homes, focusing on both single-section and multi-section manufactured housing products. The company offers a range of floor plans and customization options, including energy-efficient features and accessible design elements. Its core business activities encompass in-house design, procurement of building materials, plant-based construction and nationwide distribution through an independent network of retail partners.

Founded in 2009 and headquartered in Dallas, Texas, Legacy Housing operates in key regions across the southeastern and southwestern United States.

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